Hot Melt Adhesives Market is Expected to Reach $9.3 billion by 2022

Hot Melt Adhesives Market is Expected to Reach $9.3 billion by 2022

According to a new market report published by Lucintel, the future of the global hot melt adhesives market looks promising with opportunities in packaging, disposable hygiene products, automotive, bookbinding, and other sectors. The global hot melt adhesives market is expected to reach an estimated $9.3 billion by 2022 and is forecast to grow at a CAGR of 4.5% from 2017 to 2022. The major growth drivers for this market are growing demand for hot melt adhesives in end use industries like packaging, disposable hygiene products, and automotive industry due to fast processing and environmental friendly properties.

In this market, packaging and disposable hygiene are the major applications of hot melt adhesives. On the basis of our comprehensive research, Lucintel forecasts that the automotive segment is expected to show above average growth during the forecast period.

Within the global hot melt adhesives market, the styrene block copolymers (SBCs) segment is expected to remain the largest market by polymer type because SBCs offer better cohesion, strength, and heat resistance. These properties of SBCs have presented sound opportunities for hot melt adhesives in the pressure sensitive adhesives industry, which will spur growth for this segment over the forecast period.

Asia Pacific is expected to remain the largest market and anticipated to see above average growth over the forecast period due to increasing demand for packaging and disposable hygiene products in China and India.

Emerging trend, which have a direct impact on the dynamics of the market, include development of bio-based hot melt adhesives for assisting customers in reducing their dependence on petroleum based materials in packaging applications. Henkel AG, 3M Company, H.B Fuller Corporation, The Dow Chemical Company, and Sika AG are among the major suppliers of hot melt adhesives.

The study includes a forecast for the global hot melt adhesives market by application type, polymer type, product form, and region, as follows:

This 129-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link http://www.lucintel.com/hot_melt_adhesives_market_2017.aspx or [email protected]